MoviePass parent company reports massive 2018 loss Unlisted Video
5 years ago
1.03K
On Wednesday, MoviePass parent company, Helios and Matheson Analytics, reported massive losses to the SEC.
Business Insider reports that Helios and Matheson lost lost over $266 million in 2018.
The company has continued to burn through money since buying MoviePass in the summer of 2017.
Contributing to the loss was the company dropping the monthly subscription price to see movies to $10 a month.
Leaked internal data shows MoviePass dropped from over 3 million subscribers to about 225,000.
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